Economic and Political Importance of Medieval Fairs in Europe Essay

Economic and Political Importance of Medieval Fairs in Europe - Essay Example This essay outlines economic and political significance of holding of fairs during medieval times in Europe. The main trade fairs were held in the European region mainly France, Germany and England. The most renowned fair was one held in Champagne region in France. Medieval fairs and markets first started as social gatherings, however, with time the fairs became central to the medieval economy. Major economic centers which were mainly big towns selected a particular day where people would congregate with their merchandise. Initially, the fairs would only involve local people but as travel became easier and safer, traders began to make long travels to participate in these fairs. This also opened up trade routes allowing a more widespread participation which also meant that the fairs had a wider variety of wares. Items brought forward were dependent on the main products available in different areas of the traders. The main commodities involved were wool and lead from England, iron from Spain, and silk and spices from the Middle and Far East. The fairs extended because the different participants had a different commodity to offer. Basically, this is what sustains every trade as people continue to demand for that which is not at their disposal. These trade fairs were sustained for both political and economic reasons. The main merchants and the political class had identified that trade fairs formed a basic source of revenue, this came through taxes and other form of duties levied to traders who came to sell their wares.